Adobe Inc. (NASDAQ:ADBE) Shares Bought by Elk River Wealth Management LLC

Elk River Wealth Management LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,516 shares of the software company’s stock after purchasing an additional 28 shares during the quarter. Elk River Wealth Management LLC’s holdings in Adobe were worth $3,342,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ADBE. International Assets Investment Management LLC boosted its stake in shares of Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. FMR LLC boosted its stake in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in shares of Adobe during the 4th quarter worth $110,744,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Adobe during the 3rd quarter worth $126,703,000. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of several research reports. BMO Capital Markets reduced their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Mizuho decreased their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $570.88.

Adobe Price Performance

NASDAQ ADBE opened at $456.99 on Thursday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The stock’s 50-day moving average is $441.28 and its two-hundred day moving average is $494.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $198.93 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.52 earnings per share. On average, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.